(ATR) The California Senate approved a bill on Wednesday that guarantees the state will cover up to $250 million if Los Angeles’ 2024 Olympic bid goes over budget.
The move was seen as low-risk to many of the Senators including Democrat Kevin De León who noted the commercial success of the last Olympics staged in the city in 1984. Those Games established the LA 84 Foundation which has contributed more than $200 million to youth sports programs in the city.
"The $250 million appears to be a large sum of money, but the bid is structured in a way that ensures profitability in the 2024 Olympic Games," De León said.
The Los Angeles 1984 Games were also the very first in the modern era to run at a profit instead of a loss for the host city by taking advantage of lucrative broadcasting and sponsorship contracts in the United States.
The bill received the support of 35 Senators with only one dissenting vote from Republican Senator Andy Vidak.
"This quarter-billion-dollar credit line gives gold to the L.A. City Council so that Southern California politicians can play big shots at the 2024 Olympics," Vidak said in a statement.
The resolution to financially support the bid would be a moot point if the IOC does not select L.A. as the host city of the 2024 Games at the September 2017 IOC Session in Lima, Peru. Los Angeles is competing against Budapest, Paris and Rome to host the Summer Games.
Local Leaders Throughout France Back Paris Bid
The city of Paris may be bidding for the 2024 Olympics but it is clear that all of France is behind the effort to land the Summer Games in the French capital.
The latest show of support comes from more than 35,000 local leaders who have declared the project "a matter of national importance."
Gathering at the 99th edition of their national congress, 33,976 mayors and 1,410 presidents of Inter-Municipal Regions listened as Paris 2024 co-presidents Bernard Lapasset and Tony Estanguet presented the bid vision.
Lapasset thanked the local leaders for their support, saying "The Mayors and Presidents of the regions have the best interests of their citizens at heart and we must harness the passion and enthusiasm for Olympic Sport across France. Our aim is to deliver a fantastic Games for the international sporting movement and the people of all our local communities."
Mayor of Paris, Anne Hidalgo, added "I am proud that so many local leaders have pledged their support to this project which will touch and resonate with the whole nation."
Paris 2024 leaders will join with several local mayors on a ‘Tour de France’ in September to promote the benefits of the Games across the country and open further dialogue with the French public.
Written by Kevin Nutley and Gerard Farek
Forgeneral comments or questions, click here.
20 Years at #1: Your best source of news about theOlympics is AroundTheRings.com, for subscribersonly.
Recent Articles
Sinner-Alcaraz, the duel that came to succeed the three phenomenons
Beyond the final result, Roland Garros left the feeling that the Italian and the Spaniard will shape the great duel that came to help us through the duel for the end of the Federer-Nadal-Djokovic era.
Table tennis: Brazil’s Bruna Costa Alexandre will be Olympic and Paralympic in Paris 2024
She is the third in her sport and the seventh athlete to achieve it in the same edition; in Santiago 2023 she was the first athlete with disabilities to compete at the Pan American level and won a medal.
Rugby 7s: the best player of 2023 would only play the medal match in Paris
Argentinian Rodrigo Isgró received a five-game suspension for an indiscipline in the circuit’s decisive clash that would exclude him until the final or the bronze match; the Federation will seek to make the appeal successful.
Rhonex Kipruto, owner of the world record for the 10000 meters on the road, was suspended for six years
The Kenyan received the maximum sanction for irregularities in his biological passport and the Court considered that he was part of a system of “deliberate and sophisticated doping” to improve his performance. He will lose his record and the bronze medal at the Doha World Cup.
Katie Ledecky spoke about doping Chinese swimmers: “It’s difficult to go to Paris knowing that we’re going to compete with some of these athletes”
The American, a seven-time Olympic champion, referred to the case of the 23 positive controls before the Tokyo Games that were announced a few weeks ago and shook the swimming world. “I think our faith in some of the systems is at an all-time low,” he said.
